LONDON – Direct Fleet Insurance (DFI), a new online company providing commercial vehicle fleet insurance, has been launched, according to the Web site www.insurancedaily.co.uk.

The business model is based on the principle of the online auction in that a fleet operator or broker will submit details of the fleet, and insurers will then proceed to “bid” for the policy.

During the process both buyers and sellers can see what is being offered and bids can be increased to secure the business. Insurers forming the panel currently handle over 50% of UK fleet insurance business.

They include Zurich, Allianz and AXA, and DFI’s discussions with other insurers are ongoing. The service uses vehicle registration numbers to obtain key information and should therefore be quick and easy to use.

The site also allows a direct dialogue between insurers, brokers and fleet operators, so that specific queries can be dealt with efficiently.

The transparency of the system should benefit fleet operators, brokers and insurers by providing competitive cover that is right for the needs of the client.

According to Paul Samways, director of DFI, “Fleet insurance has traditionally been a very labor intensive process for everyone involved … but by combining the efficiencies of a sophisticated online site with the expertise of dedicated fleet underwriters we are now able to offer all parties a quick, accurate and highly competitive platform on which to do business.”